QED SOFTWARE: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
QED SOFTWARE
Largest movements
- Current investments +€59,587
up €59,587 (+5.7%), from €1.0m to €1.1m
- Cash -€51,227
down €51,227 (-37.8%), from €135,674 to €84,447
mainly Current investments (-€59,587) and Tax, wage and social debts (-€11,250)
- Revaluation surpluses +€23,031
up €23,031 (+13.5%), from €170,092 to €193,123
- Gross operating margin -€89,830
down €89,830, from €83,007 to -€6,823
- Taxes -€27,577
down €27,577 (-98.2%), from €28,087 to €510
- Financial income -€16,622
down €16,622 (-79.1%), from €21,024 to €4,402
of which Non-recurring financial income: -€17,973
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,210,399 | €1,214,593 | +€4,194 | +0.3% |
| Fixed assets | 21/28 | €1,684 | €3,423 | +€1,739 | +103% |
| Tangible fixed assets | 22/27 | €1,684 | €3,423 | +€1,739 | +103% |
| Furniture and vehicles | 24 | €1,684 | €3,423 | +€1,739 | +103% |
| Current assets | 29/58 | €1,208,715 | €1,211,170 | +€2,455 | +0.2% |
| Amounts receivable within one year | 40/41 | €29,554 | €23,057 | -€6,497 | -22.0% |
| Trade receivables | 40 | €16,250 | €7,485 | -€8,765 | -53.9% |
| Other amounts receivable | 41 | €13,304 | €15,572 | +€2,268 | +17.0% |
| Current investments | 50/53 | €1,041,365 | €1,100,951 | +€59,587 | +5.7% |
| Cash at bank and in hand | 54/58 | €135,674 | €84,447 | -€51,227 | -37.8% |
| Deferred charges and accrued income | 490/1 | €2,122 | €2,715 | +€593 | +27.9% |
| Total equity and liabilities | 10/49 | €1,210,399 | €1,214,593 | +€4,194 | +0.3% |
| Equity | 10/15 | €1,194,907 | €1,209,022 | +€14,115 | +1.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Revaluation surpluses | 12 | €170,092 | €193,123 | +€23,031 | +13.5% |
| Reserves | 13 | €985,960 | €985,960 | = | 0.0% |
| Distributable reserves | 133 | €985,960 | €985,960 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,655 | €23,739 | -€8,916 | -27.3% |
| Amounts payable | 17/49 | €15,492 | €5,571 | -€9,920 | -64.0% |
| Amounts payable within one year | 42/48 | €15,492 | €5,571 | -€9,920 | -64.0% |
| Trade debts | 44 | €1,867 | €3,197 | +€1,330 | +71.2% |
| Suppliers | 440/4 | €1,867 | €3,197 | +€1,330 | +71.2% |
| Taxes, remuneration and social security | 45 | €13,624 | €2,374 | -€11,250 | -82.6% |
| Taxes | 450/3 | €13,624 | €2,374 | -€11,250 | -82.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,370 | €2,388 | +€18 | +0.8% |
| Other operating charges | 640/8 | €686 | €1,092 | +€406 | +59.2% |
| Gross operating margin | 9900 | €83,007 | -€6,823 | -€89,830 | |
| Operating profit (loss) | 9901 | €79,951 | -€10,303 | -€90,254 | |
| Financial income | 75/76B | €21,024 | €4,402 | -€16,622 | -79.1% |
| Recurring financial income | 75 | €3,051 | €4,402 | +€1,351 | +44.3% |
| Non-recurring financial income | 76B | €17,973 | - | -€17,973 | |
| Financial charges | 65/66B | €2,373 | €2,504 | +€131 | +5.5% |
| Recurring financial charges | 65 | €2,373 | €1,544 | -€830 | -35.0% |
| Non-recurring financial charges | 66B | - | €960 | +€960 | |
| Profit (loss) for the period before taxes | 9903 | €98,601 | -€8,406 | -€107,006 | |
| Income taxes | 67/77 | €28,087 | €510 | -€27,577 | -98.2% |
| Profit (loss) for the period | 9904 | €70,514 | -€8,916 | -€79,430 | |
| Profit (loss) for the period to be appropriated | 9905 | €70,514 | -€8,916 | -€79,430 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.